Cravens & Co Advisors LLC Sells 509 Shares of EOG Resources, Inc. (NYSE:EOG)

Cravens & Co Advisors LLC cut its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,153 shares of the energy exploration company’s stock after selling 509 shares during the period. EOG Resources comprises about 0.8% of Cravens & Co Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Cravens & Co Advisors LLC’s holdings in EOG Resources were worth $1,002,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in EOG. Jacobs Levy Equity Management Inc. bought a new stake in EOG Resources during the first quarter valued at about $312,000. B. Riley Wealth Advisors Inc. lifted its stake in EOG Resources by 32.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,763 shares of the energy exploration company’s stock worth $1,871,000 after purchasing an additional 3,613 shares in the last quarter. Tidal Investments LLC grew its position in shares of EOG Resources by 13.3% during the first quarter. Tidal Investments LLC now owns 51,003 shares of the energy exploration company’s stock valued at $6,518,000 after purchasing an additional 5,972 shares in the last quarter. Hancock Whitney Corp bought a new stake in shares of EOG Resources in the first quarter worth about $208,000. Finally, iA Global Asset Management Inc. lifted its position in shares of EOG Resources by 13.8% in the first quarter. iA Global Asset Management Inc. now owns 82,063 shares of the energy exploration company’s stock worth $10,491,000 after buying an additional 9,948 shares in the last quarter. Institutional investors own 89.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of EOG Resources from $135.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Piper Sandler cut shares of EOG Resources from an “overweight” rating to a “neutral” rating and upped their target price for the company from $147.00 to $149.00 in a research report on Monday, November 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $145.00 price target on shares of EOG Resources in a report on Monday, October 14th. Susquehanna lowered their price objective on EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, KeyCorp cut their target price on EOG Resources from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Fifteen investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $144.20.

EOG Resources Price Performance

Shares of EOG opened at $132.54 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. The company has a 50 day moving average price of $128.34 and a 200-day moving average price of $126.18. EOG Resources, Inc. has a fifty-two week low of $108.94 and a fifty-two week high of $139.67. The stock has a market capitalization of $74.55 billion, a PE ratio of 10.67, a PEG ratio of 3.51 and a beta of 1.28.

EOG Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.975 per share. This is a boost from EOG Resources’s previous quarterly dividend of $0.91. This represents a $3.90 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, January 17th. EOG Resources’s dividend payout ratio is 29.31%.

EOG Resources declared that its board has initiated a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the energy exploration company to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Janet F. Clark sold 568 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $135.33, for a total transaction of $76,867.44. Following the transaction, the director now directly owns 43,532 shares of the company’s stock, valued at approximately $5,891,185.56. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.